Akobo Minerals

Capital/Financing Update • Sep 5, 2025

Akobo Minerals - Completes financial restructuring

Akobo Minerals - Completes financial restructuring

Oslo, Norway, 05 September 2025 - Akobo Minerals AB (publ) ("Akobo" or the

"Company") (Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer

operating in Ethiopia, announces that it has completed its financial

restructuring by amending and restating in full the terms of the loan agreement

with Monetary Metals ("MM").

The amended and restated terms of the MM loan agreement, following the

Memorandum of Understanding announced on 13 May 2025, are now formally in place

with all conditions lifted. Key terms of the amended and restated terms include:

· Interest rate on the outstanding loan set at 22% per annum

· Interest-free period from 15 August 2025 to and including 15 February 2026

· Quarterly repayment with first repayment scheduled to begin in March 2026

· Loan maturity extended to 31 July 2027

· The gold loan can increase to a maximum of 10,490.1268 troy ounces before

going into default

· Issuance of new warrants to MM, increasing their entitlement to 3% of

Akobo's fully diluted market capitalisation

As part of its financial strengthening, Akobo has also carried out a USD 3

million private placement of 15 million new shares subscribed by Ethiopian

Investment Holdings (EIH) at a subscription price of USD 0.20 per share, as

announced on 11 August 2025.

Akobo has also notified all bondholders that the two remaining convertible bonds

will be converted into shares, based on the terms of the private placement

towards EIH. The process of conversion and issuance of corresponding shares will

commence immediately.

With the funding from EIH, the convertible bonds, and the amended and restated

MM loan, the company is well-positioned to advancing its operations.

Construction of the vertical shaft is progressing according to plan and is

expected to be completed around year-end. Once operational, it is expected to

materially enhance production and revenues.

"We are pleased to have completed the restructuring and to continue our strong

partnerships with Monetary Metals and Ethiopian Investment Holdings," said

Jørgen Evjen, CEO of Akobo Minerals. "Their support provides the financial

flexibility needed to complete the vertical shaft and improving our operations

in Ethiopia."

For more information, contact

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn:

www.linkedin.com/company/akobominerals (https://protect.checkpoint.com/v2/___http

://www.linkedin.com/company/akobominerals___.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZm

MDIwYTc1M2VhODk0MjA0YzI4NGU2MTo2OjljYTI6MDY2NmFjNzRjN2JiMmU5NzM1YmYxMmE3MWQ1OTc2M

GI4ZmJmZTZjZmUzNGM0OTM4NDRlMjNkMTQ5OTQzZmRmOTpwOlQ6Tg)

Web:

www.akobominerals.com (https://protect.checkpoint.com/v2/___http://www.akobominer

als.com/___.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZmMDIwYTc1M2VhODk0MjA0YzI4NGU2MTo2O

mMwNTc6NDJjMmY0ODRlMmM1ZmE5MWRkZDYzMjcyOWM2ZThlNGU5MTNmMDQ1Y2VlN2ZmZTI4ZDQxNjUwYz

Q2ZDFmZTA3MDpwOlQ6Tg)

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold producer, currently holding an

exploration license covering 182 km2 and a mining license covering 16 km2 in the

Gambela region and Dima Woreda, Ethiopia. With over 15 years of active

operations on the ground, the company has established a strong foothold in

Ethiopian mining industry.

Akobo Minerals' Segele mine has an Inferred and Indicated Mineral Resource of

68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized

zone remains open at depth, supporting future resource estimates and extending

the mine's life. The exploration license holds numerous promising exploration

resource-building prospects in both the vicinity of Segele and in the wider

license area.

Akobo Minerals maintains strong relationships with local communities and

government authorities, placing ESG principles at the core of its operations.

The company's commitment to sound ethics, transparency, and stakeholder

engagement is evident through its industry-leading extended shared value

program.

Akobo Minerals is ready to take on new opportunities and ventures as they arise.

The company is uniquely positioned to become a major player in the future

development of the very promising Ethiopian mining industry.

The company is headquartered in Oslo and is publicly listed on the Euronext

Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol

AKOBO. For US investors, the company is traded on the OTC Pink Market (OTC:

AKOBF).

Akobo Minerals places great emphasis on meeting and exceeding industry

standards, fully complying with all aspects of the JORC code, 2012. For detailed

information on their adherence to this code, please refer to

https://www.jorc.org/.